Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
Add this issuer to your watchlist to get alerts about important updates.
OKLAHOMA CITY – The Drumright Utility Trust (Trust) received approval for a $438,131 loan with 100% loan forgiveness on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Trust’s water infrastructure. Construction of upgrades and improvements to the water system will be financed by the Oklahoma Drinking Water State Revolving Fund (DWSRF).
The Trust operates a public water system that provides safe, reliable drinking water to residents and businesses in the community. Many of the system’s water lines have reached the end of their useful life, leading to increased maintenance needs and potential service disruptions. To address these issues and restore compliance, the Trust will use loan funds to replace aging water lines and associated components throughout the system. These improvements will enhance reliability and system efficiency by ensuring consistent service.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Trust’s customers will save an estimated $707,431 compared to traditional financing.
